Wednesday, 16 November 2016

Quote of the Day: On closing your borders


“Protectionism and autarky [closing off a nation economically] always result in shifting production from the centres where conditions are more favourable— i.e., from where the output for the same amount of physical input is higher—to centres where they are less favourable. The more productive resources remain unused while the less productive are utilised. The effect is a general drop in the productivity of human effort, and thereby a lowering of the standard of living all over the world.”
~ Ludwig Von Mises, from his book Omnipotent Government


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